Buyer: StatLab Medical Products
Seller: Pyramid Innovation
Sector: Medical Equipment, Medical Device, Manufacturing
Keywords: StatLab Medical Products, Pyramid Innovation, Medical Equipment, Medical Device, Manufacturing, Tom Hughes, Mike Karsonovich, Pathology
MCKINNEY, Texas–(BUSINESS WIRE)–StatLab Medical Products (“StatLab”), a leading developer and manufacturer of diagnostic supplies and equipment for the anatomic pathology market, has acquired Pyramid Innovation (“Pyramid”). The acquisition broadens StatLab’s instrument manufacturing capabilities by adding slide and cassette printers.
Pyramid Innovation was founded in 2013 by Tom Hughes and is based in Sussex, England. Prior to founding Pyramid, Tom and his team developed the first ever automated pathology slide and cassette printers. Today, Pyramid Innovation is a global leader in developing instrumentation that improves the efficiency of pathology laboratory workflow.
“We are excited to welcome Pyramid Innovation into the StatLab family,” said Mike Karsonovich, CEO of StatLab. “Partnering with Pyramid positions StatLab as a direct source of high-quality laboratory automation equipment for our U.S. customer base, in addition to expanding our reach into the international market through established channel partners.”
Tom Hughes, Managing Director of Pyramid, adds, “StatLab is an ideal fit as a partner for continued innovation in the field. We are anticipating success with sales of our newly-launched PiSmart Cassette printers and look forward to continued investment in the product pipeline – we have more exciting innovations in development to further benefit our customers around the world.”
Pyramid operations will remain in Sussex and continue to be led by Mr. Hughes.
About StatLab Medical Products
Founded in 1976, StatLab Medical Products is leading the way in development and manufacturing of high-quality histology, cytology and immunohistochemistry diagnostic products. We partner with anatomic pathology laboratories to provide easy access to over 3,500 high-quality diagnostic products and equipment at excellent prices, delivered with expert support. When you work with StatLab, we’re on your team, and you’re part of our family. Learn more at StatLab.com.
About Pyramid Innovation
Founded in 2013, Pyramid Innovation Ltd, is a UK based company with over 30 years developing market-leading slide and cassette printers. Their next-generation smart printers and devices are designed to increase laboratory workflow efficiency with the unique ability to be used independently or as part of a smart device system. Learn more at PyramidInnovation.com.
The M&A market for healthcare companies continues to strengthen in 2021 and ahead of the projected increases in US capital gains taxes. There is unprecedented capital in market, the lowest interest rates in US history and strong acquirer motivations for high quality healthcare companies. Across the continuum of care, buyers and investors are looking for well established, profitable businesses and offering strong valuations and options for management.
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